Building a business can be tough but so is getting an A grade in exams but, let me tell you a secret starting a business is easier than getting an A grade and before the end of this video you will know how to start your business in college or anywhere. So sit back and relax and enjoy the video.
Follow these 5 steps and you can build a business Empire in college or ANYWHERE!
Step 1: The Idea
Everything starts with an idea, whatever we do in our life revolves around that idea. And this is the 1st step you should take in building your business empire or pretty much anything.
If you got an idea that’s better if don’t worry, you will find one.
But How do I find an idea even better, how do I find a million-dollar idea. Well, look at your surroundings or your life see the problem you are the society facing now, if you can solve it then there’s your business idea.
For example, I don’t want to wait for a bus (UBER, Rapido), I want to connect with people online (Facebook, Instagram), you can see similar examples everywhere, I want to buy things from my home (Amazon, Flipkart) you got the Idea.
Step 2: Find a Partner
Most often we cannot run a business alone, Apple started with 3 partners, Microsoft 2, google 2, Facebook 5
the thing you hear where you can be the single owner or the sole proprietor won’t help you to build an empire.
If you want to run a small business then you can be the single owner but that is not exciting, whereas building a million or billion-dollar business is. So The 2nd step is to find a partner.
You need to understand some crucial things before selecting a partner, your partner is an important person, So he must compliment you, either he should have skills that you don’t possess like coding, designing, marketing or he must be a financial person providing the source of money in the initial days
Step 3: Dropout or not
This is a crucial step for your business. There comes a time when you can’t manage both the college work and your business. Now you need to make a big decision
A decision that can make or break your company, Should I Dropout or not. Let’s say your business is growing rapidly then you should better drop out fast or risk losing your business.
There is an alternative case too where your business is growing but not rapidly, during this time it is better to continue the college and work on your business on the side.
Whatever it is you should make a decision soon…
Step 4: Seek the investors
So you dropped out of college and now your business is growing more rapidly, but now there comes another problem SHORTAGE OF MONEY! You might make some profit but it won’t be enough to grow your business more.
So what should you do now? Well, it’s time to take the 4th step Seek the investors… previously I have done a video about the basics of the Stock market where I have explained who is an investor and what he does.
So in short investor is someone who lends you money in return for something known as a stock option making him a partner in the company.
This is an essential step that helps you to grow your business from a small-scale business to a million dollar or even billion dollar business…
Step 5: Prepare to count the money (smiley)
Well, this is the final step, right now your business has grown into a large-scale business and you are a millionaire now…You could sell your business now and enjoy the rest of your life or you could hold on to your business for even a long time.
Anyway, be prepared to count all the money that is pouring in your house and don’t forget to invest them in other sources to not lose what you earned…
In the journey to becoming a successful businessman, you will face a lot of problems and enemies, You will have a lot of competitors who will do anything to fail you…
But if you persist and follow these 5 steps, you could one day be a millionaire or even a Billionaire